The past couple of weeks have been rough and bumpy for anyone even remotely involved in Cryptocurrency. The price crash has instilled a sense of Fear, Uncertainty and Doubt (FUD). Now nobody is certain about anything anymore and all we know is that prices reacted to the financial market, and it did so in a very negative and totally unpredicted way. At the start of the year, there was much optimism and prices reflected this optimism. Prices were good, everyone was happy and many believed that this would be the year when we finally retested or even smashed the Bitcoin All-Time-High, and that of many other Cryptocurrencies which were showing signs of growth (especially Ethereum for me).
Well we can say without much argument and mincing of words that the optimism many experienced at the start of the year has been effectively dampened. I mean then everyone was looking forward to the halving, but now you don't even hear anything about it. Its almost like everyone has forgotten that the Halving is happening this May. The level of sadness, confusion and uncertainty right now is simply lamentable and I can only hope that it gets better from this point out (hopefully it doesn't get to the worst case scenario).
Many in the traditional finance world believe that perhaps this is the dying pangs of a failed tech project. While some others believe that this period is pivotal to how Bitcoin and Cryptocurrencies will go down in the history booka as a lesson in economics, detailing the craze for a get-rich-quick scheme and a speculative asset. Well I believe this is a transition phase. You have to attack the market with a clear head from from the outside noise of Crypto Twitter and market analysts and naysayers. You have to conquer your fear, the uncertainty plaguing you and the doubt eating you up and only then will you reach financial enlightenment. Its a serene feeling I'll tell you that.